Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

16. a. Using the trial balance shown on page 149, open the accounts in the ledger for Carlo's TV Repairs. b. At the end of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
16. a. Using the trial balance shown on page 149, open the accounts in the ledger for Carlo's TV Repairs. b. At the end of each day, C. Amato does his accounting from the source documents that he received or issued that day. Record the source documents for November 15 on page 26 of a general journal. The source documents are shown on pages 149-152. Error (a) Omitted recording the sale of services to a customer. (b) Omitted recording the receipt of a pay- ment on account by a customer. (c) Recorded a sale on account as a cash sale. (d) Recorded purchase of a new truck as a debit to Truck Repair Expense and a credit to Cash. (e) A withdrawal by the owner was deb- ited to Bank Loan. and credited to Cash. (1) The collection of an account receiv- able was debited to Cash and credited i to Revenue. (g) An invoice received for advertising was debited to Total Total Net Total Total Owner's Revenue Expense Income Assets Liabilities Equity 4 Telephone Expense and credited to Accounts Payable. (h) The payment of the owner's personal car loan was deb- ited to Car Expense and credited to Cash. (i) Omitted recording the investment of additional funds by the owner.. (i) Recorded a cash sale of $525 as $252. Account Cash Accts. Rec./B. Dover Accts. Rec./Drive-Inn Motor Hotel Accts. Rec./1. Mansfield Carlo's TV Repairs Trial Balance November 15, 20- Equipment Truck Accts. Pay/Electronic Suppliers Accts. Pay./Poulin's Service Station C. Amato, Capital Sales Hydro Expense Truck Expense Equipment Repairs Expense Sales invoices: Acc. No. 100 101 102 103 141 142 200 201 300 400 504 506 507 Debit $4.500.00 SOLD TO: B. Dover 141 Dynes Road Winnipeg, Manitoba R2J 028 RE: R.C.A. Colour TV 147.43 398.76 225.50 25 000.00 8.000.00 0 0 0 $38 271.69 Credit DATE: INV. NO: TERMS: $ 2047.50 276.89 35 947.30 0 INVOICE Carlo's TV Repairs 1750 Elgin Street, Winnipeg, Manitoba R3E 1C3 Tel: (204) 941-8232 Fax: (204) 941-3987 $38 271.69 Nov. 15, 20- 1501 Net 30 days Labour $160.00 Parts 89.85 $249.85 AMOUNT OF THIS INVOICE: $249.85 SOLD TO: Drive-Inn Motor Hotel 1460 River Road Winnipeg, Manitoba R2M 328 RE: TVs in rooms 117, 119, and 212 Purchase invoices: INVOICE Carlo's TV Repairs 1750 Elgin Street, Winnipeg, Manitoba R3E 1C3 Tel: (204) 941-8232 Fax: (204) 941-3987 SOLD TO Carlo's TV Repairs 1750 Elgin Street Winnipeg, Manitoba GST Registration No. S473542119 Quantity ELECTRONIC SUPPLIERS 147 Industrial Blvd., Winnipeg, Manitoba R2W 0J7 Terms: Not 15 days Tel. (204) 475-6643 Fax (204) 475-2843 R3E 103 Prov. Sales Tax No. 435 70913 Equipment Pay this amount DATE: INV. NO: TERMS Description Labour $356.00 Parts 137.50 $493.50 Nov. 15, 20- 1502 Net 30 days AMOUNT OF THIS INVOICE SHIP TO SAME Date Invoiced 11/12/ Montreal Winnipeg Vancouver $493.50 Invoice No. 7463 Unit Price $453.90 Amount $453.90 $453.90 Date: Nov. 13/- Part No. X340 Part Name oil filter 4 L oil 316-092 Spark pluge INVOICE POULIN'S SERVICE STATION 1553 Park Drive, Winnipeg, Manitoba R3P 0H2 Tel: (204) 321-1154 Fax: (204) 321-2139 Terms: Net 15 days: Total Make S 8.50 Licence: 10.50 Name 15.90 Address TOTAL PARTS FORWARD $34.90 Cheques issued: Carlo's TV Repairs 1750 Elgin Street Winnipeg, Manitoba R3E 1C3 PAT ND THE ORDER OF Blectronic Suppliers SUM OF Two thousand and forty-seven THE REGIONAL BANK OF CANADA 3017 Lelland Road Winnipeg, Manitoba R2K 057 34823639 033 4162859 (Detach and retain this statement) Carlo's TV Repairs DATE Oct. 28 ITEM Inv. 7393 Cafe) Ven Inv. No. B-151 GMC Truck A-4597 Carlo's TV Repairs 1750 Elgin Street Winnipeg, Manitoba R3E 1C3 WORK COMPLETED Oil Change Tune-up TOTAL LABOUR PARTS PAY THIS AMOUNT Carlo Amato AMOUNT THE ATTACHED CHEQUE IS IN PAYMENT OF ITEMS LISTED BELOW AMOUNT DISCOUNT $2047.50 $63.00 63.00 34.90 $97.90 Nov, 15, 20 NO. 347 -$2047.50 50/100 DOLLARS NO. 347 NET AMOUNT $2047.50 Carlo's TV Repairs 1750 Elgin Street Winnipeg, Manitoba R3E 1C3 PAY 10 THE ORDER OF Winnipeg Hydro SUM OF Seventy-nine THE REGIONAL BANK OF CANADA 2017 Lalland Road Winniprg, Haneb 82K07 348 21634 033 4162859 (Detach and retain this statement) Carlo's TV Repairs DATE Nov. 15 ITEM Inv. -741 Cate T Customer 1. Mansfield Drive-Inn Motor Hotel Cash sales Carlo Amato THE ATTACHED CHEQUE IS IN PAYMENT OF ITEMS LISTED BELOW AMOUNT $79.50 DISCOUNT Cash Receipts List November 15, 20- Nov. 16 Sales invoices issued: NO. 348 Hov. 15, 20- Invoice 1370 1269 -$79.50 -50/100 DOLLARS NO. 348 NET AMOUNT $79.50 Amount $ 225.50 398.76 1 156.63 $1.780.89 c. In the general journal, record the following November 16 source documents. d. Post the general journal to the ledger and prepare a trial balance. No. 1503 to L. Mansfield for $477. No. 1504 to Drive-Inn Motor Hotel for $573.60. Purchase invoice received: No. 7533 from Electronic Suppliers, $550.80 for servicing the equipment. Cheques issued: No. 349 to Poulin's Service Station, $276.89 on account. No. 350 to Electronic Suppliers, $453.90 on account. Cash received from: B. Dover, $147.43. Drive-Inn Motor Hotel, $293.50. Cash sales, $1453.70

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

16th edition

1259307417, 978-1260153132, 1260153134, 978-1259307416

Students also viewed these Accounting questions